JOVE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
JOVE
Largest movements
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Cash +€69,233
up €69,233 (+86.4%), from €80,159 to €149,392
mainly Current investments (+€100,000) and Debts after one year (+€72,800)
- Tangible fixed assets +€45,574
up €45,574 (+6.0%), from €756,768 to €802,342
of which Plant, machinery and equipment: +€65,263
- Other debts -€90,550
down €90,550 (-59.9%), from €151,162 to €60,612
- Debts after one year +€72,800
up €72,800 (+25.9%), from €281,317 to €354,117
- Current portion of long-term debt +€22,613
up €22,613 (+278%), from €8,135 to €30,748
- Trade debts +€11,607
up €11,607 (+213%), from €5,441 to €17,048
- Gross operating margin +€27,075
up €27,075 (+54.8%), from €49,363 to €76,438
- Depreciation +€22,706
up €22,706 (+65.7%), from €34,546 to €57,252
- Financial charges +€10,424
up €10,424 (+280%), from €3,726 to €14,150
- Financial income +€1,605
up €1,605 (+90.5%), from €1,774 to €3,379
- Other operating charges -€1,234
down €1,234 (-10.8%), from €11,411 to €10,177
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €938,300 | €954,121 | +€15,821 | +1.7% |
| Fixed assets | 21/28 | €757,609 | €803,183 | +€45,574 | +6.0% |
| Tangible fixed assets | 22/27 | €756,768 | €802,342 | +€45,574 | +6.0% |
| Land and buildings | 22 | €623,050 | €603,361 | -€19,689 | -3.2% |
| Plant, machinery and equipment | 23 | €133,718 | €198,981 | +€65,263 | +48.8% |
| Financial fixed assets | 28 | €841 | €841 | = | 0.0% |
| Current assets | 29/58 | €180,691 | €150,938 | -€29,753 | -16.5% |
| Amounts receivable within one year | 40/41 | €532 | €1,546 | +€1,014 | +191% |
| Other amounts receivable | 41 | €532 | €1,546 | +€1,014 | +191% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €80,159 | €149,392 | +€69,233 | +86.4% |
| Total equity and liabilities | 10/49 | €938,300 | €954,121 | +€15,821 | +1.7% |
| Equity | 10/15 | €492,245 | €490,483 | -€1,762 | -0.4% |
| Contributions | 10/11 | €313,688 | €313,688 | = | 0.0% |
| Reserves | 13 | €177,103 | €177,103 | = | 0.0% |
| Non-distributable reserves | 130/1 | €33,616 | €33,616 | = | 0.0% |
| Reserves not available under the articles | 1311 | €33,616 | €33,616 | = | 0.0% |
| Distributable reserves | 133 | €143,487 | €143,487 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,454 | -€308 | -€1,762 | |
| Amounts payable | 17/49 | €446,055 | €463,638 | +€17,583 | +3.9% |
| Amounts payable after more than one year | 17 | €281,317 | €354,117 | +€72,800 | +25.9% |
| Financial debts | 170/4 | €281,317 | €354,117 | +€72,800 | +25.9% |
| Amounts payable within one year | 42/48 | €164,738 | €108,408 | -€56,330 | -34.2% |
| Current portion of amounts payable after more than one year | 42 | €8,135 | €30,748 | +€22,613 | +278% |
| Trade debts | 44 | €5,441 | €17,048 | +€11,607 | +213% |
| Suppliers | 440/4 | €5,441 | €17,048 | +€11,607 | +213% |
| Other amounts payable | 47/48 | €151,162 | €60,612 | -€90,550 | -59.9% |
| Accrued charges and deferred income | 492/3 | - | €1,113 | +€1,113 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,546 | €57,252 | +€22,706 | +65.7% |
| Other operating charges | 640/8 | €11,411 | €10,177 | -€1,234 | -10.8% |
| Gross operating margin | 9900 | €49,363 | €76,438 | +€27,075 | +54.8% |
| Operating profit (loss) | 9901 | €3,406 | €9,009 | +€5,603 | +165% |
| Financial income | 75/76B | €1,774 | €3,379 | +€1,605 | +90.5% |
| Recurring financial income | 75 | €1,774 | €3,379 | +€1,605 | +90.5% |
| Financial charges | 65/66B | €3,726 | €14,150 | +€10,424 | +280% |
| Recurring financial charges | 65 | €3,726 | €14,150 | +€10,424 | +280% |
| Profit (loss) for the period before taxes | 9903 | €1,454 | -€1,762 | -€3,216 | |
| Profit (loss) for the period | 9904 | €1,454 | -€1,762 | -€3,216 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,454 | -€1,762 | -€3,216 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.